A new political action committee has been launched to support Democratic nominee Zohran Mamdani as New York’s business and finance community build out fundraising aimed at turning back his bid to become New York’s next mayor.
The pro-Mamdani PAC, called OneNYC, was formed on Thursday, state filings show. Its treasurer is listed as Yasser Salem, a partner at Hira Ventures, a company describe on his LinkedIn profile as “an early- and growth-stage private investment firm dedicated to building exceptional healthcare and education companies.”
“I’ve been interested in supporting… for a long time,” Salem told the Daily News.
Salem graduated from Harvard Business School, an online bio shows, and previously worked at Mckinsey and The Public Investment Fund. He declined to share more details about the PAC or if it had a specific agenda.
The new PAC supporting Mamdani comes as the democratic socialist, has sparked deep concern in the city’s business community following his upset victory against ex-Gov. Andrew Cuomo in the June primary.
To finance an ambitious “affordability” agenda, Mamdani has proposed jacking up New York’s top corporate tax rate to 11.5%, up from the current 7.5% and tacking on an additional 2% in income tax to households earning more than $1 million annually.
Amid that concern, New York business interests have also launched a new PAC, dubbed New Yorkers for a Better Future Mayor 25, to try and defeat Mamdani. The group does not appear to support any alternative candidates yet, as questions continue to swirl over the question of whether Cuomo will remain in the race.
That group was filed on Tuesday, and the Wall Street Journal reported they plan to raise around $20 million.
Both Mayor Adams and Cuomo have independent lines in the November ballot, and they both have called on each other to drop out of the race. And many, including former Gov. David Paterson, have tried to push business leaders to coalesce behind either Adams or Cuomo.
Another group in Mamdani’s support, New Yorkers for Lower Costs, was formed during the primary cycle and reported over $1.4 million in contributions, including tens of thousands post-primary win. The group has signaled it will remain in operation for the general election.
It blasted out TV advertisements and get out the vote texts, but was no match for the behemoth Fix the City PAC, which broke city records with its $24 million haul in Cuomo’s support.
Fix the City has continued to fundraise as it looks toward backing a “free-market candidate,” The News previously reported.
